Witty above 15,850; amplitude is still strong

Major stock indices traded with strong mid-morning gains amid positive global signs. The Nifty was moving above the 15,850 level. All NSE sector indices traded in the green, with metals, IT and autos gaining the most.

At 11:23 IST, the barometer index, the S&P BSE Sensex, added 546.78 points, or 1.04%, to 53,274.76. The Nifty 50 Index gained 164.75 points, or 1.05%, to 15,864.

In the broader market, the S&P BSE Mid-Cap Index rose 0.98%, while the S&P BSE Small-Cap Index gained 1.57%.

Buyers outnumbered sellers. On the BSE, 2,454 shares rose and 721 shares fell. A total of 167 shares remained unchanged.

Hum rate:

The Nifty IT rose 1.84% to 28,288.35. The index lost 0.89% in the last trading session.

Among the Nifty IT index constituents, Mindtree (up 2.97%), Larsen & Toubro Infotech (up 2.81%), Tech Mahindra (up 2.72%), HCL Technologies (up 2.51%) and Infosys (up 2.15%) were the biggest gainers.

Actions in Spotlight:

Welspun Corp gained 3.54% to Rs 220.60 after the company said it has secured several orders worth Rs 600 crore to be executed from India and the US in the oil and gas sector and water of approximately 47,000 MT. The company received an order to supply onshore lined pipes and elbows for an oil pipeline project in Australia. This order involves the manufacture and supply of 19.7 billion tons of pipes and 180 elbows for gas transport.

Dredging Corporation of India rose 1.06% to Rs 272 after the company announced it had signed an agreement with the Department of Fisheries to develop water bodies across India. The company will develop fishing ports/reservoirs/ponds/other water bodies throughout India through dredging and other marine activities.

Prof. Dr. GY V Victor MD and CEO of Dredging Corporation of India (DCIL) said that in future, this deal will provide great opportunities for DCIL to venture into long-term contracts with states and center to develop the fishing port and maintain it.

Dr. Reddy’s Laboratories gained Rs 1.50 to Rs 4,373.35 after the drugmaker said it acquired a portfolio of generic and branded injectable products from US-based Eton Pharmaceuticals, Inc. The portfolio includes the Biorphen injection (phenylephrine hydrochloride) and Rezipres injection (ephedrine hydrochloride). NDA with nine separate combinations of strengths and filings and a first-to-file approved ANDA for cysteine ​​hydrochloride for the US. A strength of Biorphen and Rezipres are currently commercially available in the US. The acquisition will complement the business Dr. Reddy’s institutional in the US competitor injectable products.

Global markets:

Asian stocks rose broadly on Monday amid improved risk sentiment after Wall Street rallied sharply on Friday as oil prices eased, easing fears of protracted inflation and the Federal Reserve’s aggressive tightening. accompanies.

Meanwhile, Russia defaulted on foreign currency sovereign debt for the first time in more than 100 years, according to reports. The foreign exchange reserves of the country’s central bank remain frozen.

Wall Street rebounded strongly on Friday as oil prices fell, allaying fears of protracted inflation and accompanying aggressive Federal Reserve tightening.

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(This story has not been edited by Business Standard staff and is automatically generated from a syndicated feed.)

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